i2 Technologies to Acquire ec-Content and Trade Services Holdings
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Marketplace solutions provider i2 Technologies Inc. today announced efforts to further expand the scope of its business unit Infinite Content by signing a definitive agreement to acquire the content divisions of Trade Services Corporation, a 70-year-old database publisher of transactional content, and its San Diego-based affiliate ec-Content Inc., a developer and manager of content for digital marketplaces, e-procurement, and supplier syndication.
Infinite Content provides content information on more than 17 million standard business products and supplies. Infinite Content collects and maintains this information in a searchable database.
The addition of Trade Services and ec-Content will add significantly to Infinite Content's resources and customer base, helping Infinite Content in its goal to become the premier content management provider worldwide.
Under the terms of the agreement, i2 will acquire all the outstanding capital stock of Trade Services Corp. and ec-Content in a purchase transaction of $5 million in cash and approximately 2.3 million shares of i2 common stock. Trade Services Holdings will retain ownership of Trade Services Publications and an interest in TradePower.
"Our high-quality, mission-critical content, joined with Infinite Content's complete content offering, will create high-value solutions available nowhere else in the market," said Anthony Dubreville, CEO of Trade Services and ec-Content.
Dubreville will direct operations for Trade Services and ec-Content under Infinite Content, which will continue to provide content offerings to its existing clients.
"We believe the true value of online marketplaces is predicated on the richness of information contained within them and the scope of choices and services offered," said Tim Leisman, executive vice president and general manager for Infinite Content. "We have been extremely successful in achieving our vision by providing critical content to customers such as Boeing, Dana, IBM, and Siemens, to name a few. Infinite Content is clearly the undisputed leading provider of content solutions to the new economy."
The acquisition is expected to close in January 2001.